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High streets to get £6.1m pandemic funding boost

High streets to get £6.1m funding boost Coronavirus: Business Improvement Districts will receive funding in response to the coronavirus (COVID-19) pandemic

Mark Moran
04 May 2020
 

Local business partnerships across England will share £6.1m of funding to spend on projects that will help their local economies through the uncertainty of the coronavirus pandemic.

The money will be paid to local authorities and dispersed to Business Improvement Districts (BIDs). These are local business partnerships that bring developers and communities together to provide local leadership, drive regeneration and deliver projects and additional local services.

High Streets Minister Simon Clarke MP said: “The government has announced a comprehensive programme of support for businesses to help them deal with the economic impact caused by the COVID-19 pandemic and today we are extending that support to Business Improvement Districts.

Bill Addy, Chair of The BID Foundation, said: “BIDs have already stepped up to support those affected by the COVID-19 crisis. This includes working with local councils, emergency services and businesses to ensure help and information gets to those who need it; supporting shuttered shops to adapt and deliver their services online; and helping to coordinate safe and secure spaces that meet health advice.”

Simon Quin, Executive Director of the High Streets Task Force, said: “BIDs have established networks and capacity in their local areas which provide vital coordination and help, both for businesses getting back on their feet and for communities that will need guidance and reassurance to return to the high street, when it is safe to do so.

There are 261 BIDs in England. The majority collect their levies at the start of the financial year.

The support for BIDs has been calculated on the basis that:

  • BIDs in England spend their operational costs evenly every quarter
  • BIDs in England would have spent approximately £6.1 million on operational costs.
 
 
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